HC Deb 22 July 1941 vol 373 cc816-7W
Mr. Groves

asked the Chancellor of the Exchequer whether, with a view to encouraging production, he will consider favourably the suggestion that the Finance Act be so amended as to enable industry to take the year ended 5th April, 1941, as the datum year for the fixation of profits for the present Act, so that any profits from increased production arising since this date shall be subject to Excess Profits Tax of only 50 per cent. per annum?

Sir K. Wood

. No, Sir. I do not think this suggestion would be advisable.